Impact Loan provides financial and coaching support that empowers individuals to build enterprises, support their families, and transform their communities.

The Process

Intake


Meet with the coordinator to evaluate your business idea and eligibility.  

Apply


You will gather required documents and complete a formal application. A credit check will also be performed.

Develop


You will be given the support necessary to complete a formal business plan, as well as prepare to present your business idea.

Review


You will pitch your business idea to a panel of Impact Loan Advisors who will make the final loan decision as well as provide feedback.

Funding


If the loan is approved, you will meet with Libro Credit Union staff to set up a business account and obtain the funds.

Loan Details

Amount

Up to $5,000, with the option of an additional $5,000 Step-Up Loan after one year.

Interest Rate

The yearly interest rate is Libro Credit Union’s Prime Rate + 2%.

Payment Plan

The loan is paid back over 12 to 48 months, depending on the loan amount.

Banking

Entrepreneurs within the program receive a free business account with unlimited transactions at Libro Credit Union for the duration of the loan.

Click the link below to take the next step!

Apply Now

Are you ready?

Start or grow your business with Impact Loan!